The Best Way to Create a Downpayment

The Fastest Way to Get a Downpayment for First Time Home Buyers??

An RRSP Loan! 💵

Most banks and credit unions will allow you to borrow up to $35,000 to invest into your RRSP at the same institution. It’s an easy loan to qualify for AND builds credit.

Then, as long as your money has been in your RRSP for 90 days, you can withdraw it using the First Time Home Buyers Program — and $35,000 is enough for a downpayment on a $600,000 home!

Now, here’s the best part - if you max out your RRSP before February 28th, there is a tax refund available to you for 2024! Collect the tax refund and put that money towards paying off your RRSP loan.

So, in only 90 days you’ve created a downpayment for your first home 🤗

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Видео The Best Way to Create a Downpayment канала Spire Mortgage Team